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Shippers surge as Middle East turmoil forces re-routing, rate hikes in sight

ReutersMar 2, 2026 9:21 AM

Shares in European shipping companies Maersk MAERSKb.CO and Hapag-Lloyd > rise 7% and 4%, respectively, as the Middle East turmoil disrupts Hormuz and Suez routes, tightening capacity and driving expectations of higher freight rates

On Sunday, Maersk, Hapag-Lloyd and CMA CGM began rerouting ships around Africa, avoiding the Suez Canal and Bab el-Mandeb after U.S. and Israeli strikes on Iran and the closure of the Strait of Hormuz

Maersk and Hapag-Lloyd said they were suspending all vessel crossings in the Strait of Hormuz until further notice

J.P.Morgan says that further disruption is likely to push freight rates higher—alongside rising oil prices

Shares of Nordic tanker companies also rise with Copenhagen listed Torm TRMDa.CO and Oslo-listed Frontline's FRO.OL up 5%

Norwegian RoRo shipper Hoegh Autoliners HAUTO.OL is up 3.6%

Shares of Maersk hit their highest since March 2, 2023

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